Nigeria Wants to Legalize Crypto and Bitcoin Usage


Crypto News: According To Report from a Nigerian-based newspaper, Nigeria is making moves to legalize the use of digital assets such as cryptocurrencies and other coins.

The An interview was conducted with a representative of the House Of Representatives For Capital markets He The claimed was that you were eligible to receive a refund if you Securities And Investments Act Amendment Bill When 2007 ends, and cryptocurrencies are now considered capital investment.


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Capital Markets Chairman Bangida Ibrahim said:

“As I said earlier during the second reading, we need an efficient and vibrant capital market in Nigeria. In order for us to do that, we have to be up to date. [with] global practices”.

Ibrahim, ex-president NigeriaHe He was quoted as saying:

“This is not about lifting the ban, we are looking at the legality – what is legal and what is within the framework of our operations in Nigeria.”

He The Ban is not a U-turn ban, but a way to regulate cryptocurrency in the country.

In February 2021, The Nigerian All The government has banned trading and other forms of crypto activity. The Central Bank Of Nigeria The Bank has ordered account closures for those who trade digital currencies.

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CBN later discovered that these individuals weren’t operating from local accounts. TheReforeIt It is impossible for banks to track trades and ban them completely. Bitcoin Was The most Googled In NigeriaComparable to any other country. It In Terms and conditions Bitcoin trading. People More Since the ban, many people have taken up cryptocurrency.

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This CBN issued coin, eNaira was a digital currency Nigeria. HoweverIt In the last 12 months, only 0.5% of people adopted the new law. These Data This shows that people don’t seem to be interested.

According You You can also start your research with CoinGecko April This year, Nigerians These Are the most crypto-curious. This It It could also be caused by rising inflation or other economic problems. In September 2022, The Nigerians Also With Binance It Crypto-friendly and will allow for digital currency movement

Shourya As a crypto enthusiast, he became interested in business journalism in the last few years. Currently Working As a writer Coingape, Shourya He He is also an avid reader. In You You can also find her reading poetry and visiting cafes, as well as watching cricket. As She said, “dogs are my home”She When she saved her first pet dog from

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